Gold: the superstitious reverence for shiny rocks

The notion of “intrinsic” value is a superstition.

Moreover, it is the most blatantly moronic superstition imaginable.

Thought-experiment:

Post-apocalyptic scenario.

I have 12 cans of tuna.  I also have a can-opener.

YOU have an “intrinsically” valuable Krugerand.

YOU are (slowly) dying of starvation.

Probable result?  YOU attempt (via a mix of “libertarian” goldbug boilerplate nonsense which rapidly degenerates into frantic weeping) to convince me to share my tuna with you/”sell” you some of my tuna, in exchange for your “intrinsically valuable” Krugerand.

However (being the sort of person I am): I not only do not “sell” you any of my tuna, but I specifically keep you around for the sole purpose of WATCHING ME EAT MY TUNA, while you weep hysterically.

Bottom line: in any genuine SHTF scenario, (almost) nobody is going to have the spare time/stamina/tools/resources to even function at the level of barter.   The most likely scenario is: scavenging and some equivalent of “gang warfare”.

Moreover, in any genuine SHTF scenario, the ratio between “supply” and “demand” for gold (and any other purportedly “precious” metal) will be drastically altered.

Does anyone seriously believe that (for example) diamonds will retain their “value” when they can be readily scavenged off of corpses?

The real locus of “value” in  any economic transaction is the two (or more) parties engaging in exchange.

Bottom line: given the fact that 99% of the “Libertarian” and “Objectivist” movements are scrawny, (comparatively) well-off WHITE NERDS — the vast majority of their “economic” participation will consist of sucking some gang-bangers dick at gun-point, after which the aforementioned gang-banger will most likely shoot them, strip them of anything of genuine value (clothing/shoes etc.), and leave their corpse for the rats to devour.

 

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